On episode 369 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the two types of Fed rate cuts, a positive outcome from high inflation, the stock market was right again, the number of millionaires worldwide, Wingstop vs. Chipotle, how many renters could afford to buy a home, how much it costs to build a new house, why private markets aren't in a bubble, Kevin Bacon movies, and much more!\n\nThis episode is sponsored by YCharts and CME Group.\nGet 20% off your initial YCharts Professional subscription when you start your free YCharts trial through Animal Spirits (new customers only). Sign up at: https://go.ycharts.com/animal-spirits\nAccess CME Group's valuable educational materials and trading tools and learn more about what adding futures can do for you at\xa0cmegroup.com/animalspirits\n\nSign up for The Compound newsletter and never miss out: thecompoundnews.com/subscribe\n\nFind complete show notes on our blogs:\nBen Carlson\u2019s A Wealth of Common Sense\nMichael Batnick\u2019s The Irrelevant Investor\n\nCheck out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com\n\nFeel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.\n\xa0\nInvesting involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.\nThe Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.\nObviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here:\nhttps://ritholtzwealth.com/podcast-youtube-disclosures/\nLearn more about your ad choices. Visit megaphone.fm/adchoices